UFC Owners Close To Launching A New Boxing League
The UFC, who are part of TKO Group Holdings Inc., are very close to announcing a boxing league in 2025.
Reports first teased the idea that the Saudis and TKO could work together to make it. It would see the subsidiary of the Public Investment Fund of Saudi, Sela, come together with TKO, who would be a “managing partner.” TKO would get a percentage of the revenue and some equity. Dana White has shown his interest in boxing throughout the years. He made Floyd Mayweather vs. Conor McGregor in 2017. Although McGregor was stopped in the tenth round, he earned a reported $100 million.
The fight also sold over 4 million PPVs, making it one of the most lucrative fights ever. This raised suggestions that White was going to launch Zuffa Boxing. While it did not get launched, White continued to support boxers such as Callum Walsh. He gave the Irishman a platform on his UFC Fight Night Events. The TKO President and CEO Mark Shapiro now says an agreement is close to being completed.
TKO Reacts
“Everybody knows we’re in talks with the Saudis but to give you a little more color. I will tell you that we are close on an agreement with the Saudis on a creation of a boxing league. TKO would be the producer, the promoter and responsible for all day-to-day operations of the venture. We would receive a fee of $10 million plus. Again, we’re not putting any money in. We’re not putting any capital in, we’re not on the hook for any [costs].
“Additionally, we would have some earn-in equity per time, specifically over a five-year period but it would be dependent on us achieving certain milestones, including us exceeding board approved annual budgets over that five years. We’ve just sent a delegation to London to meet with the Saudi delegation led by Andrew Schleimer, our [chief financial officer] and Nick Khan, of course who runs WWE, and Lawrence Epstein who runs UFC,” Shapiro said. “They had a full day meeting earlier this week and we’re getting awfully close and when we have something official, we’ll come out [with the news],” Shapiro said
Will It Happen?
If the deal goes ahead, it raises questions over how the UFC approaches the sport. White has previously been critical of the sport, saying that fighters do not face the best. There is also an argument that boxers do not remain active enough. This is something the UFC has been praised for, although it does receive criticism for not paying fighters enough.
The introduction of the Saudis into boxing has helped fans see the biggest fights being made. But it has had the impact of having major events in The Kingdom, meaning that fans are seeing events taken away from the UK and the US. However, White has shown in his work with the UFC that he can make a global brand, raising hopes that he could do the same with boxing.
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